Eastern & Central Europe

Latest news about eastern and central Europe and EU enlargement. Since it was founded in 1958, the EU has regularly accepted new member countries. Each applicant country must meet certain requirements before membership is permitted. Regular enlargements have seen the EU grow from its original 6 founding members to 28 in 2013. Any country that satisfies the conditions for enlargement can apply to be a candidate. The European Commission, at the request of the European Council, assesses the applicant’s ability to meet the conditions of membership. If the opinion is positive and the Council agrees a negotiating mandate, discussions are formally opened between the applicant and the EU. At the start of 2013, five countries had been accepted as EU candidate countries: Iceland, Montenegro, the former Yugoslav Republic of Macedonia, Serbia and Turkey. Albania, Bosnia and Herzegovina and Kosovo (under UN Security Resolution 1244) have the status of potential candidates.

Access to finance — 10 July 2012, 11:48 CET

A system of guarantee funds and loan funds exists in Poland. The Polish Agency for Enterprise Development (PARP) also fulfills an important role implementing operational programmes and is an element of support for enterprises carrying out innovative ventures.

Representation of the European Commission in Romania — 04 November 2009, 19:18 CET

Contacts of the European Commission representation in Romania.

Romania: Economy Overview — 04 November 2009, 19:18 CET

Romania, which joined the European Union on 1 January 2007, began the transition from Communism in 1989 with a largely obsolete industrial base and a pattern of output unsuited to the country's needs. The country emerged in 2000 from a punishing three-year recession thanks to strong demand in EU export markets.

Romania Investment Climate 2009 — 04 November 2009, 19:18 CET

Romania actively seeks direct foreign investment. The Agency for Foreign Investment (ARIS), created in 2004, is designed to advertise the country as a good investment destination and to improve aspects of the business climate.

Starting a business in Romania — 13 July 2012, 13:25 CET

An overview of the process of starting a new business in Romania.

Representation of the European Commission in Bulgaria — 04 November 2009, 12:36 CET

Contacts of the European Commission representation in Bulgaria.

Bulgaria Investment Climate 2009 — 04 November 2009, 12:36 CET

Bulgaria has put in place a liberal foreign investment regime, including low, flat corporate and income taxes and competitive incentives to attract high levels of foreign investment.

Access to finance — 24 May 2012, 13:42 CET

Finance for small and medium sized enterprises in Bulgaria can be obtained by anyone who is a trader according to the Commercial Law, as well as self-employed tradespeople or freelancers, if their activity can be considered to be an enterprise as per the Commercial Law.

Starting a business in Bulgaria — 24 May 2012, 13:31 CET

An overview of the process of starting a new business in Bulgaria and useful information about the documents required.

Representation of the European Commission in Hungary — 29 October 2009, 15:53 CET

Contacts of the European Commission representation in Hungary.

Hungary Investment Climate 2009 — 29 October 2009, 15:53 CET

Hungary maintains an open economy and attracting foreign investment remains a priority for the Hungarian government.

Access to finance — 20 June 2012, 23:53 CET

The Hungarian state helps companies gain access to finance in many ways: direct support, indirect support, preferential loans, financial assets, etc.

Starting a business in Hungary — 19 June 2012, 12:41 CET

An overview of the process of starting a new business in Hungary.

Representation of the European Commission in Cyprus — 28 May 2012, 00:06 CET

This website provides information and contacts of the European Commission representation in Cyprus.

Starting a business in Cyprus — 29 May 2012, 00:37 CET

An overview of the process of starting a new business in Cyprus and the documents required.

Starting a business in Turkey — 15 October 2009, 16:34 CET

This World Bank site provides information about the procedures and costs associated with starting a business in Turkey.

EU Funding in Turkey — 15 October 2009, 16:34 CET

The EU is committed to supporting Turkey in its path for membership. The initial objective of EU financial support towards Turkey was the extension of an area of peace, stability and prosperity within and beyond Europe. Once the Union accepted Turkey as a candidate, financial assistance began to focus on supporting Turkey in its preparation for EU membership.

Turkey Investment Climate 2009 — 15 October 2009, 16:33 CET

The Government of Turkey (GOT) views foreign direct investment as vital to the country's economic development and prosperity. Accordingly, Turkey has one of the most liberal legal regimes for FDI in the OECD. With the exception of some sectors (see below), areas open to the Turkish private sector are generally open to foreign participation and investment. However, all investors – regardless of nationality – face a number of challenges: excessive bureaucracy, a slow judicial system, high taxes, weaknesses in corporate governance, sometimes unpredictable decisions made at the local government level, and frequent changes in the legal and regulatory environment.

Turkey: Economy Overview — 15 October 2009, 16:33 CET

Turkey's dynamic economy is a complex mix of modern industry and commerce along with a traditional agriculture sector that still accounts for about 30% of employment. It has a strong and rapidly growing private sector, yet the state remains a major participant in basic industry, banking, transport, and communication.

EU Enlargement Process - progress reports on the candidate countries: Croatia, Turkey and the former Yugoslav Republic of Macedonia - key findings — 14 October 2009, 14:34 CET

The European Commission has adopted its annual strategy on EU enlargement. The Communication highlights the progress the Western Balkans and Turkey made towards European integration during a difficult year of global economic crisis, and spells out the main challenges facing them in the months and years to come. In the light of the progress achieved, the Commission decided to recommend the opening of negotiations with the former Yugoslav Republic of Macedonia. In a major step forward for the region, visa liberalisation for the Western Balkans will progress substantially in 2010.

Cyprus Investment Climate 2009 — 17 October 2009, 23:09 CET

Cyprus, a full member of the European Union since 1 May, 2004, has a liberal climate for investments. The sectors of niche tourism, energy, shipping, desalination and water management services offer excellent potential for inward investment. At the same time, the Government of Cyprus offers incentives in the field of research and technology.

European Commission Representation in the Czech Republic — 13 October 2009, 16:35 CET

Contacts of the European Commission Representation in the Czech Republic.

Access to Finance — 30 May 2012, 17:39 CET

Aside from structural funds of the European Union, companies and other entities can use subsidy programmes co-financed from the resources of the Czech state budget. These are for instance programmes for support of research and development.

Czech Republic Investment Climate 2009 — 13 October 2009, 16:35 CET

The small, open, export-driven Czech economy grew by over six per cent annually from 2005-2007 and the strong growth continued throughout the first three quarters of 2008. Despite the global financial crisis, the conservative Czech financial system has remained relatively healthy. The rate of Czech economic growth, however, began to fall in the fourth quarter of 2008, mainly due to a significant drop in demand for Czech exports in Western Europe. This trend is expected to continue, with many analysts predicting Czech economic growth to completely stagnate in 2009. Both unemployment and inflation are relatively low at 6% and 3.6% respectively.

Czech Republic: Economy Overview — 09 May 2012, 12:10 CET

The Czech Republic is one of the most stable and prosperous of the post-Communist states of Central and Eastern Europe. Maintaining an open investment climate has been a key element of the Czech Republic's transition from a communist, centrally planned economy to a functioning market economy.